Physician Flash Report

Physician Flash Report: Q3 2025 Metrics

KauffmanReport
By Matthew Bates and Erik Swanson
5 min readNov 12, 2025
Strategy partnerships and innovationData and analytics
PFR key performance chart

The median investment/subsidy per provider plateaued this quarter, however the distribution between higher and lower performing practices is wide.

The Physician Flash Report features the latest industry trends from the same data physician groups use to track their finances and operations. For more detailed benchmarks by specialty or custom peer groups, please email PhysicianFlashReport@kaufmanhall.com.

Authors

Matthew Bates

Matthew Bates

Managing Director, Service Line Leader, Physician Enterprise

Matthew is a Managing Director with Kaufman Hall and leads their Physician Enterprise service line. Matthew has 30+ years of healthcare experience working with physicians, executives and boards in the U.S. and beyond. His expertise includes envisioning and executing transformations in healthcare with a focus on transforming care delivery, healthcare economics, and data and analytics. Matthew is a frequent author...

Erik Swanson

Erik Swanson

Managing Director

Erik Swanson is a Managing Director leading Kaufman Hall’s Data and Analytics Group. His responsibilities focus on building cutting-edge data science tools and leveraging big data to provide deeper and more timely insight, drive operational improvement, and develop thought leadership to help our clients and consultants achieve the most meaningful outcomes. His areas of expertise span artificial intelligence and machine...